In the following year, the number of apartment owners’ cooperative societies (condominiums) in Azerbaijan may reach 50. Now there are 17 unions of the kind that have passed state registration, reporters were told at a "round table" meeting of the cooperative societies on the problems and prospects by the head of the department of housing and communal policy of the Ministry of Economy and Industry of AR Nizami Gasimov.
According to him, the work is carried out in a joint project with the World Bank on the diagnosis of the housing stock of the country. In his speech, the official made the emphasis on stimulating new methods of housing management, public support for the creation and application of cooperative societies and the international experience in this field. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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